ECB and Brazil to Explore TIPS-Pix Payment Link
Edited by Steinar Vigdel Kolnes, Editor, Oslo
The European Central Bank and Brazil’s central bank will assess whether their instant payment systems can be connected to support cross-border settlements.
The European Central Bank (ECB) and the Central Bank of Brazil plan to study a possible connection between Europe’s TARGET Instant Payment Settlement (TIPS) service and Brazil’s Pix payment system.
The feasibility review is part of the G20 Cross-Border Payment Roadmap. It will examine whether linking the systems could help facilitate international settlements.
The initiative would broaden TIPS’ role in cross-border payments if it proceeds. The reported step is an assessment of a potential link, rather than a confirmed launch.
Source: Bitcoin.com News
